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In Practice July 21, 2010
Aon Explores Alternative Remuneration
Aon Corp. announced today that it will resume accepting various forms of compensation for its brokerage business where appropriate.
Reported by Sara Kelly
According to a recent announcement, the Chicago-based broker will accept all compensation―including supplemental and contingent commissions―according to the geographic areas and market segments in which they are appropriate and legally permissible.
Steve McGill, chairman and CEO of Aon Risk Solutions, declined to provide specifics about which geographical areas or market segments would be included in the compensation structure.
A five-year old ban that barred Aon from collecting profit- and volume-linked commissions was lifted earlier this year, and while no timeline has yet been announced, the report showed that the company is now working with insurers and clients to make this strategy possible.
Further information about Aon is available at www.aon.com.